Materials Up as Copper Hits Two-Month High -- Materials Roundup

FeaturesDow Jones Newswires

Shares of mining companies and other commodities producers rose as traders bet the passage of a tax overhaul bill through the U.S. Congress would lead to more rapid economic growth and higher demand for raw materials.

Copper futures, sometimes known as "Dr. Copper" because they diagnose changes in the growth outlook, rose 1.4% at $3.1960 a pound in U.S. trading, for the highest close since late October.

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Still, analysts at brokerage Morgan Stanley said the tax bill won't be a "panacea for the economic cycle," noting the impact on growth rates is likely modest and short-lived.

Rob Curran,

(END) Dow Jones Newswires

December 20, 2017 16:38 ET (21:38 GMT)